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2 P; u! \! _ H2 ` @; C* O* `2 T# j 3.( )If L/C stipulates that "third party documents are acceptable", then according to International Standard Banking Practice, the acceptable documents presented under the IMC are:- `4 } B' |6 ~5 [5 p
A. transport documents showing shipper as a part), other than the beneficiary$ E1 D) [% }0 s6 H. h
B. drafts issued by a party other than the beneficiary
$ H& p6 e% `. l8 o; x7 ] C. invoices issued by party other than the beneficiary
Z3 S( n" ^. x( X$ \3 z) w+ ~ D. weight lists issued by a party other than the beneficiary
4 y3 c, |* ` N$ \; t& \/ z 4.( )According to UCP500 and International Standard Banking Practice, unless otherwise stipulated in the letter of credit, the documents requiring a signature am:
/ w; u5 i v. S1 E. W+ f0 s- N. c& A A. certificate
5 O, H* K! a8 H6 X& F5 q B. draft
3 n. _! U* L8 y6 C T0 ` C. cargo receipt/ q! s& V/ L5 n' ^- E& V
D. bill of lading) g4 y9 ]0 J4 u
5.( )An letter of credit calls for presentation of an insurance certificate. If the C1P value on the invoice is USD10,000.00, the acceptable insurance documents am:3 V. {* o H$ B% O Q+ v2 Z. y
A. Insurance Policy for USD12,000.00; J) T0 x i6 b
B. Insurance Certificate for USD 11,000. 00
" n+ o: Y; k, E' A2 v7 E( S h, p C. Insurance Certificate for USD10,000.00
0 r9 T7 @4 t) o& e2 t' C/ P0 _ D. lnsurance Declaration under Open Cover for USD10,000.006 g# n1 B7 C$ o5 `
6.( )An L/C states that shipment must be made on or about 27 June. Which of the following shipment dates would be acceptable?7 r$ x- e3 z) @1 U+ e: E5 m( |
A. 20 June: b7 l, N$ I e1 V2 n0 M8 J
B. 27 June9 N: o$ w" q+ ~0 b" r
C. 02 July& Q) [$ x1 J% F4 R+ ^
D. 03 July& _$ ?0 B2 K0 M7 u/ _ v# p
7.( )According to UCP500, the correct statements are:
, f& D: U2 I1 `/ S A. Draft is not required under sight payment IMC
# P4 |& o- E" h/ T0 t B. Draft is required under acceptance L/C# R0 Y, @/ V0 M8 |0 O2 `
C. Draft is not required under deferred payment L/C% ^& c+ ]3 E9 d; o: f; c
D. Draft may be required under sight payment L/C
; ]+ Y. r$ Z4 a' B6 H& S+ g4 E' n, Z 8.( )Importer ABC Co. and Exporter XYZ Co. have agreed in their sales contract to use L/C as the payment method for sales of goods shipped from Shanghai port to New York port by sea,
6 {9 {2 ]0 w, c9 [, u' | according to INCOTERMS 2030, the correct trade terms used are:7 w' l; X$ }; t( ^5 m8 A8 D4 b
A. CIF Shanghai (if price terms is on CIF basis)
\" k* j: }' l B. FOB Shanghai (if price terms is on FOB basis)
% @$ T6 j' x2 Z0 Q* I3 n C. CIF New York (if price terms is on CIF basis)) D$ }) q& L7 Q( p/ |
D. FOB New York (if price terms is on FOB basis)
8 e$ ?* K* m% U: K! t7 _% ? 9.( )Which documents presented as described below do you consider complied with L/C terms and conditions?+ T$ W) G" l( D) T
A. L/C calls for ‘Packing List in triplicate’, while L/C states in Additional Conditions ‘Goods to be packed in non wooden cartons’; Packing lists presented indicating ‘goods have been packed in nonwooden cartons ’7 [8 F9 o9 t F. E
B. L/C does not call for a Shipment Advice, while L/C states in Additional Conditions Beneficiary must advise shipment details to the applicant immediately after shipment‘;documents presented do not include a Shipment Advice& U! `3 O& P# p# u- _0 G* s; p# t
C. L/C calls for ‘ Certificate of origin in duplicate issued by Chamber of Commerce, while L/C states in Additional Conditions ’ Country of origin: purely USA origin‘ ; Certificate of Origin presented showing: ’ Country of originMexico and USA‘
& s5 Y% u$ F1 D# o! `# S, T2 q+ l! f D. L/C calls for Full set of ocean B/Ls issued to order and notifying applicant marked freight prepaid‘, while L /C states in Additional Conditions ’Shipment in FCL‘; B/L presented showing ’FCL |